Revolutionizing the Haircare Industry: The Growing Demand for Hair Bond Multipliers Set to Reach USD 330 Million by 2033

The hair bond multiplier market is expected to generate a revenue of USD 330 million by 2033, up from USD 191.5 million in 2023. With a modest but steady annual growth rate of 5.6%, the market is poised for continued expansion over the next decade.

Key Market Highlights

  • Increased Demand for Self-Care Products: As consumers become more conscious of the impact of chemical treatments on hair health, the demand for hair bond multipliers has surged. These products help repair damage caused by bleaching, coloring, and other chemical processes, thus supporting the growing trend of self-care and healthy hair maintenance.
  • Salon-Chain Collaborations: Leading brands are partnering with global salons and hair treatment chains, aiming to target millennial consumers, who represent a large segment of the market. These collaborations are expanding the reach and popularity of hair bond multipliers.
  • Global Market Outlook: North America remains the largest market, accounting for 43.1% of global sales, thanks to strong consumer interest, social media influence, and a thriving beauty culture. Meanwhile, Asia-Pacific is seeing significant growth due to rising salon culture and increased urbanization, particularly in countries like India and China.

Market Drivers

  • Hair Experimentation: With younger generations more willing to experiment with their hair colors and styles, hair bond multipliers play a crucial role in maintaining hair health during such transformations.
  • Celebrity Influence: Social media influencers and celebrities, particularly in North America and Asia, continue to drive consumer interest in hair care products, boosting sales of bond multipliers.
  • Rising Disposable Incomes: Growing disposable incomes globally have allowed consumers to prioritize premium self-care products, contributing to the increasing demand for hair bond multipliers.
  • Product Availability and Accessibility: The growing presence of big brands like Olaplex, L’Oréal, and others has made hair bond multipliers more accessible, as these products become widely available in supermarkets, online stores, and professional salons.

Regional Insights

  • United States: The U.S. leads the global hair bond multiplier market with a 36.8% share, driven by high consumer demand and celebrity endorsements.
  • China: China holds a 7.8% market share, fueled by a growing population and increasing emphasis on grooming and self-care.
  • Japan: Japan contributes 6.9% to the market, with a strong salon industry and rising demand for premium hair care products.
  • Canada: Canada accounts for 6.3% of the market, as consumer awareness of hair bond multipliers continues to rise.
  • United Kingdom: The U.K. holds a 5.2% share, with well-developed beauty markets and a growing online presence for hair care products.

Key Players in the Global Hair Bond Multiplier Market

  • Olaplex LLC
  • Lakme Lever Private Limited
  • Earthly Body, Inc.
  • Croda International Plc
  • Avon Products, Inc.
  • Henkel AG & Co. KGaA
  • L`Oreal S.A.
  • Unilever
  • Kao Corporation (Kao Professional Salon Services Inc.)
  • Brazilian Professionals LLC
  • Affinage Salon Professional Limited
  • The Procter & Gamble Company
  • Keune Haircosmetics Manufacturing B.V.
  • The Estee Lauder Companies, Inc
  • Other Players

Recent Developments in the Hair Bond Multiplier Market

  • Recently, Olaplex, the leading company that patented the first hair bond multiplier, announced their association with celebrity colorists Tracey Cunningham, Chad Kenyon, Bianca Hillier, Justin Anderson, Guy Tang, Christin Brown, Chrissy Rasmussen, Samantha Cusick, Jimmy Paul, and Laurent Philippon as brand ambassadors of Olaplex on a global scale.
  • With the rise of many companies in the hair bond multiplier market, there has been huge competition, which has resulted in a plunge in revenue for many leading players. Olaplex recently suffered a loss of 22% in the fourth quarter of 2022.

Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com

Market segmentation

By Product Type:

  • Kit
  • Loose

By Application:

  • Hair Colouring
  • Hair Treatment

By End Use:

  • Salons
  • Spa
  • Personal Use

By Distribution Channel:

  • Direct Sales
  • Retail Sales
  • Modern Trade Distributors and Wholesalers
  • Health & Beauty Stores
  • Online Retailers

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Dehydrated Garlic Market Expected to Reach USD 12.21 Billion by 2034, Boosted by Versatile Applications and Health Trends

Dehydrated Garlic Market
Dehydrated Garlic Market

The global dehydrated garlic market will be valued at US$7.02 billion by 2024. It is estimated to increase at a moderate CAGR of 5.70% to US$12.21 billion by 2034. Various market forces are influencing this estimated enhancement in the market size.

Garlic’s versatility enhances its usability. It can also be blended with other food products, which surges its demand in the industry. Consequently, the industry’s growth results in rising demand for garlic products, which is a critical market driver.

Consumers have become more aware of their health. Natural elements are used extensively to maintain their health. Moreover, preventive measures are taken to avoid critical issues like high blood pressure, cardiovascular diseases, and other illnesses. As garlic possesses great medicinal value, its demand surges. Hence, this is another market driver.

Key Takeaways from the Market Study

  • The forecasted CAGR of the global dehydrated garlic market has increased compared to the historical CAGR, promising constant market growth.
  • A CAGR of 11.8% in the Indian market projects magnificent progress, which creates lucrative opportunities for new entrants.
  • With a CAGR of 10.3%, the United States of America leads North America to become a lucrative market for the production of dehydrated garlic.
  • Germany leads the European dehydrated garlic market with a promising CAGR of 9.8%. The surge in market demand is due to the increased consumption of convenience food.

“Due to hardneck garlic’s better shelf life, usability, and versatility, the market segment is highly exploited, which helps it secure 87.2% of the market space,” – Nandini Roy Choudhury, Client Partner at Future Market Insights 

Competitive Landscape

The competitive market space is majorly occupied by Asian organizations, which depicts the cluttered Asia-Pacific region. Organizations choose various strategies to expand in the market, including forming subsidiaries, product innovation, mergers and acquisitions, partnerships, and franchising.

The following are some of the key developments in the market:-

  • In November 2018, Chiping ShengKang Foodstuff Co., Ltd. extracted benefits from the Chinese agricultural department by emphasizing a wide range of crops used for protection. With the help of the initiative of the Chinese government, the organization could protect new plant varieties.
  • Recently, Krushi Food Industries penetrated the market by innovating and adding a new product to its product portfolio called dehydrated pink onion flakes.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the dehydrated garlic market, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.

The dehydrated garlic market is segmented by variety (hardneck and softneck), by form (Chopped, Minced, Granules, Powder, Flakes, Kibbled, and Sliced), by nature (Organic and Conventional), by drying method (Air Drying, Spray Drying, Freeze Drying, Drum Drying, and Vacuum Drying), by sales channel (B2B/Direct, Food Service (HoReCa), and Retail/ B2C/Indirect), and by region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East and Africa).

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Gluten-Free Pizza Crust Market Projected to Hit USD 5 Billion by 2032, Driven by Gluten Intolerance Awareness and Fast Food Demand

Gluten-Free Pizza Crust Market
Gluten-Free Pizza Crust Market

The global gluten-free pizza crust market is on an upward trajectory, projected to grow from US$ 3.3 billion in 2022 to an impressive US$ 5 billion by 2032. This growth is driven by rising consumption of fast food, increasing awareness of gluten intolerance, and a growing prevalence of celiac disease. According to Future Market Insights (FMI), the market is expected to witness a 7% compound annual growth rate (CAGR) during the forecast period.

Key Market Drivers

  • Rising Gluten Intolerance and Celiac Disease: The rising prevalence of celiac disease, an autoimmune disorder triggered by gluten consumption, is significantly propelling the demand for gluten-free food products. In the USA alone, over 2 million people are diagnosed with celiac disease, according to the National Institute of Diabetes and Digestive and Kidney Diseases.
  • Health Awareness and Dietary Preferences: Increasing health consciousness among consumers is leading to a higher demand for gluten-free products. The inclination towards healthier food options is boosting the gluten-free pizza crust market.
  • Expansion of Pizza Outlets: The growing number of pizza outlets in countries such as the USA, India, the United Kingdom, and Germany is further driving market growth. The rising penetration of these outlets is making gluten-free pizza options more accessible to consumers.
  • Convenience and Fast Food Consumption: The global trend towards convenient food products is also contributing to the market’s growth. Gluten-free pizza crusts are becoming a popular choice for consumers looking for quick and healthy meal options.

Market Segmentation and Dominant Segments

The market is segmented by nature, end-use, and distribution channel. The conventional segment is expected to dominate, accounting for over 60% of the demand share by 2032. This segment’s popularity is due to its widespread availability and lower cost compared to organic products.

Regional Market Insights

North America: Dominating the global gluten-free pizza crust market, North America is driven by the high prevalence of celiac disease and gluten intolerance. The USA and Canada, with their large number of pizza outlets and premium food brands, are leading the market growth.

Asia Pacific: Expected to register a 6.5% CAGR, the Asia Pacific market is growing due to increased consumption of fast food and gluten-free products in countries like India and China. The expansion of the food and beverage industry and the rising popularity of western food among millennials are key factors driving growth.

Competitive Landscape and Key Players

The global gluten-free pizza crust market is highly fragmented, with leading players adopting strategies such as collaborations with online retail food chains and end-users to gain a competitive edge. Key players include Udi’s Gluten Free, Glutino, King Arthur Flour, Namaste Foods, Nu Life Market, Bob’s Red Mill, Cup4Cup, and Vicolo.

Recent Developments and Strategic Initiatives

  • Partnerships and Collaborations: Companies are increasingly partnering with online retail platforms and food chains to expand their reach and cater to the growing demand for gluten-free products.
  • Product Innovation: To attract a broader customer base, manufacturers are developing new gluten-free products with improved taste and nutritional profiles.
  • Market Penetration: Leading players are focusing on increasing their market presence in high-growth regions such as Asia Pacific and Latin America.

Investors have significant opportunities in the gluten-free pizza crust market due to its robust growth prospects. Key areas for investment include:

  • Organic Gluten-Free Products: With an expected 6% CAGR, the organic segment presents a lucrative opportunity for investors focusing on health-conscious consumers.
  • Technological Advancements: Investing in innovative production techniques and product formulations can provide a competitive advantage.
  • Regional Expansion: Targeting high-growth regions like Asia Pacific and North America can yield substantial returns.
  • E-commerce and Online Retailing: Capitalizing on the growing trend of online food shopping can enhance market reach and sales.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

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Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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Functional Extracts Market Poised for Growth to USD 190.95 Billion by 2032 with 6.5% CAGR on Nutrient-Enriched Product Demand

Functional Extracts Market
Functional Extracts Market

The Functional Extracts Market is expected to register a CAGR of 6.5% during the forecast period, up from US$ 98.9 Bn in 2021 to reach a valuation of US$ 190.95 Bn by 2032.

The functional extracts are concentrated phytonutrients that are available naturally in most vegetables, plants, and fruits. Functional extracts are the extracts derived from sources like plants, vegetables, and fruits. Functional extracts play an important role in increasing the nutritional levels of food products, supplements, and drinks.

Some of the plants, vegetables, and fruits used in the extracting of the ingredients are apple, grass, almonds, alfalfa grass and many such products. The addition of functional extracts in the products does not change its taste or feel.

These are absolutely natural and organic in nature. Functional extracts are essential and are used to enhance the overall nutritional value of the food and beverage. The key regions that are involved in the global functional extracts market include North American, Asian, and European countries. Some of the leading players in the global functional extracts market are Applied Food Sciences Inc., Future Ceuticals Inc., Morre-Tec Industries Inc., Kerry Inc., Pure World Inc., Naturex Inc., and VF Bioscience SAS.

Awareness Regarding Health Benefits of Organic Products Is Driving the Functional Extracts Market

The overall functional extracts market is booming rapidly across the globe. The major driver that is driving the demand for the functional extracts market is the increase in the use and consumption of organic products in the food and beverages, cosmetics, pharmaceuticals, and other industries. Consumers are demanding the use of natural and organic ingredients in these products which are driving the functional extracts market at a rapid pace.

The growing trend of consumers’ inclination towards organic and natural food products is driving the global functional extracts market. There is also an increased awareness amongst people regarding the benefits one gets from by using and consuming naturally extracted products which is supporting the growth of the functional extracts market. The growth is observed due to increased production and consumption of the nutritional food in the market. The main restraint in the functional extracts market is the availability of substitutes and a very low supply of raw materials.

Functional Extracts Market: Regional Analysis

The countries that are largely involved in the global functional extracts market are Germany, the US, China, the UK, Thailand, India, and Brazil.

Functional Extracts Market: Key Participants

Some of the market participants in the functional extracts market are:

  • Archer Daniels Midland Company
  • Green Source Organics
  • The Green Labs LLC
  • Bell Flavors and Fragrances
  • Applied Food Sciences Inc.
  • FutureCeuticals Inc.
  • Morre-Tec Industries Inc.
  • Kerry Inc.
  • Pure World Inc.
  • Naturex Inc.
  • VF Bioscience SAS
  • NOF America Corporation
  • Teawolf LLC
  • Kalsec Inc.
  • Tianjiang Pharmaceutical Co., Ltd.

Functional Extracts Market Segmentation

The functional extracts market is segmented on the basis of nature, application, and source.

On the basis of nature, the functional extracts market can be segmented as:

  • Organic
  • Conventional

On the basis of application, the functional extracts market can be segmented as:

  • Food and beverages
  • Drinks
  • Dairy
  • Dietary supplements
  • Food
  • Human nutrition
  • Animal nutrition
  • Personal care
  • Cosmetics
  • Hair care
  • Skin care
  • Pharmaceuticals
  • Perfume

On the basis of source, the functional extracts market can be segmented as:

  • Plants
  • Vegetables
  • Fruits
  • Seeds
  • Flowers

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
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Nutrigenomics Market Forecast to Reach USD 2.31 Billion by 2032, Growing at 16% CAGR Amid Rising Interest in Personalized Nutrition

Nutrigenomics Market
Nutrigenomics Market

The global nutrigenomics market is poised for exceptional growth, with projections indicating an increase from US$ 451.7 million in 2021 to an impressive US$ 2311.49 million by 2032. This robust expansion, marked by a remarkable compound annual growth rate (CAGR) of 16%, underscores the escalating demand for personalized nutrition solutions and the burgeoning awareness of health and wellness.

Key Market Drivers Fueling Growth

Rising Prevalence of Chronic Diseases: The surge in chronic conditions such as cardiovascular disorders, diabetes, and cancer is a significant catalyst for the nutrigenomics market. According to the World Health Organization (WHO), cardiovascular diseases claim approximately 17.9 million lives annually, making them the leading cause of death globally. Similarly, diabetes accounted for around 1.6 million deaths in 2016. This alarming rise in chronic diseases is driving the demand for nutrigenomics, which offers personalized dietary solutions to mitigate these health risks.

Personalized Nutrition for Athletes: The growing trend of personalized nutrition among athletes is another key driver. Tailored nutritional recommendations based on genetic profiles help optimize exercise performance, energy output, and overall health. This shift towards individualized dietary plans, away from a one-size-fits-all approach, is significantly boosting the nutrigenomics market. Athletes and fitness enthusiasts are increasingly adopting these personalized solutions to enhance their performance and achieve their health goals.

Consumer Awareness and Healthy Lifestyle Choices: The increasing consumer awareness of the benefits of healthy eating habits and functional foods is propelling the market forward. As more individuals recognize the role of nutrition in preventing chronic diseases and maintaining overall health, the demand for nutrigenomics is rising. Functional foods that have a positive physiological impact and delay the onset of chronic diseases are becoming more popular, further driving market growth.

Regional Insights and Opportunities

The nutrigenomics market in North America is expected to expand rapidly due to the high prevalence of obesity and diabetes. The Centers for Disease Control and Prevention (CDC) estimates that obesity will affect approximately 42% of the American population by 2030. This rising awareness of obesity-related health issues is expected to drive demand for customized nutritional products.

The Asia Pacific region presents significant growth opportunities for nutrigenomics service providers. Countries like India and Malaysia are grappling with high rates of diabetes and obesity. According to WHO, the number of people living with diabetes in India is expected to reach 79 million by 2030. In Southeast Asia, Malaysia has the highest prevalence of diabetes and obesity. This rising prevalence of chronic diseases in the region is expected to fuel market growth, making Asia Pacific a lucrative market for nutrigenomics.

Prominent Market Players

Leading companies in the global nutrigenomics market include Vitagene, Mapmygenome, Gini Health, geneOmbio, Nutrigenomix, 23andMe Inc., DNAfit, GX Sciences Inc., and Xcode Life. These key players are leveraging nutrigenomics to optimize nutritional intake, aiming to reduce the risk of diseases at all life stages. The increasing demand for healthy, personalized products is encouraging food manufacturers to incorporate nutrigenomics into their product development strategies, further driving market growth.

Recent Developments in the Nutrigenomics Market

  • 23&Me and GlaxoSmithKline Partnership: In June 2018, 23&Me announced a partnership with GlaxoSmithKline to develop new treatments and potential cures using human genetics as a foundation.
  • Global Genetic Project by 23&Me: Launched in February 2018, this project aims to enhance understanding of human genetic diversity and provide insights into health concerns affecting underrepresented populations.
  • DNAFit and Vita Mojo Collaboration: In June 2017, DNAFit and Vita Mojo partnered to create the world’s most personalized restaurant menu, tailored to each customer’s DNA.

The nutrigenomics market is on a trajectory of significant growth, driven by the rising prevalence of chronic diseases, the increasing demand for personalized nutrition among athletes, and heightened consumer awareness of health and wellness. With key players continuously innovating and expanding their offerings, the market presents lucrative opportunities for investors. The shift towards personalized nutrition solutions is set to redefine dietary habits and health management, making nutrigenomics a promising and attractive investment avenue.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
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High Protein Flour Market to Reach USD 56.5 Billion by 2034, Driven by Health-Conscious Consumer Preferences

High Protein Flour MarketThe global high protein flour market reached a valuation of USD 16.0 billion in 2022. In 2023, worldwide demand witnessed a 9.5% year-on-year growth, and the industry is projected to grow to USD 19.2 billion by 2024. Over the forecast period from 2024 to 2034, high protein flour sales are expected to rise at an impressive 11.4% compound annual growth rate (CAGR), reaching USD 56.5 billion by 2034.

The strong growth of this market is driven by the health benefits associated with high protein flour, which supports satiety and aids in weight management. The increasing shift toward plant-based diets has further fueled demand for flours derived from lentils, chickpeas, and other plant-based sources.

Additionally, consumer preference for functional flours offering benefits beyond high protein content is on the rise. This trend highlights opportunities for brands to innovate by creating blends that integrate fiber, enzymes, prebiotics, and other value-added ingredients to meet evolving consumer expectations.

The strong demand for high-protein flour is driven by several factors, including a growing emphasis on health and wellness, urbanization, and the increasing popularity of ready-to-eat and nutritious food products. As a result, both established and new manufacturers in the high-protein flour market face enormous opportunities and challenges in meeting this burgeoning demand.

Key Market Drivers:

  • Health-conscious Consumer Behavior: Consumers of all ages are increasingly concerned about their health, leading to a higher demand for high-protein flour. The rise in protein consumption globally and the desire for healthier food options are significant contributors to market growth.
  • Urbanization and Lifestyle Changes: Urban living often necessitates convenient and quick meal options. High-protein flour fits this need perfectly, supporting the market’s expansion. The growing trend of ready-to-eat and healthy foods continues to drive the sales of high-protein flour products.
  • Research and Innovation: Ongoing research and development are crucial for creating superior high-protein flour products. Manufacturers investing in innovative production techniques and new product offerings are well-positioned to capitalize on the market’s growth.

Regional Insights:

North America: North America remains a key player in the high-protein flour market, driven by health-conscious consumers and advanced food processing technologies. The USA and Canada are at the forefront, with significant market shares.

Europe: European countries like Germany, the UK, France, and Italy are experiencing a rise in demand for high-protein flour due to increasing health awareness and the popularity of protein-rich diets. The region’s favorable economic climate also supports market growth.

Asia-Pacific: The Asia-Pacific region, including China, India, and Japan, shows significant potential for market growth. Rising disposable incomes, urbanization, and a shift towards healthier diets contribute to the expanding demand for high-protein flour.

Middle East & Africa: The Middle East and Africa region is witnessing a steady increase in demand for high-protein flour, driven by urbanization and changing consumer preferences. Government initiatives promoting healthy diets further support market growth.

Competitive Landscape:

The high-protein flour market features key players like Archer Daniels Midland Company, Unilever Inc., ITC Ltd., Conagra Brands Inc., The Pillsbury Company LLC, General Mills, King Arthur Flour Company Inc., and North American Millers’ Association. These companies are adopting both organic and inorganic growth strategies to strengthen their market positions and meet the growing demand.

Recent Developments:

  • Blue Diamond Growers expanded its almond flour production capacity in August 2017, enhancing its ability to meet rising demand.
  • General Mills has introduced new high-protein flour products catering to the health-conscious consumer segment.

Challenges: Despite the promising growth prospects, the market faces challenges such as the increasing preference for gluten-free products due to allergies. Bridging the gap between demand and production, especially amid global warming and climate crises, remains a critical concern for manufacturers.

Key Segments For High Protein Flour Market

By Nature:

  • Organic
  • Conventional

By Type:

  • Unbleached
  • Bleached

By Source:

  • Wheat
  • Almond

By End Users:

  • Food and beverages
  • Bakery
  • Confectionery
  • Dairy
  • Animal feed
  • Retail
  • Foodservice

By Distribution Channel:

  • Hypermarkets
  • Supermarkets
  • Specialty stores
  • Retail stores
  • Online stores

By Region:

  • North America
  • Europe
  • Middle East Africa
  • South Asia
  • Rest of Asia
  • Australia
  • New Zealand

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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Website: https://www.futuremarketinsights.com
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Global Car Rental Service Market Set for Strong Growth Driven by Technological Advancements and Evolving Travel Trends

The car rental service market is poised for significant growth in the coming decade, with the global market size projected to reach USD 3,09,703.4 million by 2024, reflecting a compound annual growth rate (CAGR) of 7.3% from 2024 to 2034. By the end of the forecast period, the market is expected to hit USD 6,25,867.4 million, driven by several key factors including technological advancements, the rise of “bleisure” travel, and the increasing demand for eco-friendly vehicle options.

Key Drivers of Market Growth

  • Rising Business and Leisure Travel: The growing trend of “business-meets-leisure” (bleisure) travel, where business trips are extended with recreational activities, is fueling the demand for car rental services. Companies are focusing on improving employee well-being, contributing to the rising demand for flexible travel options.
  • Technological Advancements: The integration of online booking platforms, ride-sharing partnerships, and advancements in near-field communication (NFC) technology have made it easier for customers to rent cars. In particular, mobile applications and websites are simplifying the process, increasing the accessibility and convenience of renting a car globally.
  • Post-Pandemic Leisure Demand: Following the COVID-19 pandemic, there has been a surge in demand for leisure and recreational activities as workers increasingly focus on maintaining a work-life balance. This has led to a higher preference for personal vehicles rather than public transportation, further boosting car rental services.
  • Subscription-Based Models and Innovation: Subscription-based rental models, offered by companies such as Hertz, Enterprise, and Sixt+, are transforming the market. These plans offer longer rental periods, vehicle interchangeability, and reduced maintenance costs, meeting the evolving needs of modern consumers.

Key Industry Trends

  • Online Rental Platforms and Ride-Sharing Integration: Companies such as Uber, Lyft, and BlaBlaCar are increasingly incorporating car rentals and ride-sharing into their business models. This is expected to continue expanding as the convenience of mobile platforms increases.
  • Eco-Friendly and Electric Vehicles: With rising environmental awareness, the market for electric and hybrid vehicles in car rentals is on the rise. Airports and car rental services are integrating more sustainable and eco-friendly options, which are expected to attract both leisure and business travelers.
  • On-Airport Rentals: The on-airport car rental segment is projected to dominate, accounting for 43.2% of the global market in 2024. With the increasing number of international travelers and growing preference for convenience, on-airport rentals are set to see continued expansion.

Regional Insights

  • India: India’s car rental market is expected to experience robust growth, driven by government investments in tourism and improved infrastructure.
  • Germany: Germany’s car rental market is witnessing steady growth, with advancements in AI and vehicle management enhancing customer experiences.
  • United States: The U.S. car rental market is set to grow with the increasing adoption of electric vehicles and strategic partnerships in the travel industry.

Competitive Landscape

To gain a competitive edge, leading companies are diversifying their offerings by introducing new car models, enhancing availability and appealing to a broader customer base.

Providing exceptional customer service through technology, such as user-friendly mobile apps and personalized support, is a key strategy for growth. Expanding into regions with high tourism, rapid urbanization, or limited service options offers significant potential.

Forming strategic partnerships with other players in the travel and transportation sectors—such as airlines, hotels, travel agencies, and online booking platforms—can boost brand visibility and attract more customers through joint marketing and promotions.

Embracing new technologies like vehicle tracking, automated check-in/out systems, and digital payment solutions is crucial for maintaining a competitive advantage.

Industry Updates

  • In September 2024, Uber launched a car rental service in Mexico, collaborating with MEX Rent-A-Car, offering flexible options in 22 locations, including Mérida, Cancún, and Mexico City.
  • In March 2024, Eco Mobility, a premium car rental service provider in India, expanded its corporate car rental services to 10 new cities. The company’s on-demand service model, characterized by personalized, technology-driven approaches, aims to provide exceptional customer experiences.
  • In January 2024, German startup Vay launched a remotely driven rental car service in Las Vegas, Nevada. The service uses automotive-grade tele driving technology, allowing a tele driver to operate a vehicle remotely.

Key Service Providers in Car Rental Service Market

  • Enterprise Rent-A-Car
  • Hertz
  • Avis Budget Group
  • Sixt SE
  • Europcar
  • Alamo Rent A Car
  • National Car Rental
  • Thrifty Car Rental
  • Dollar Rent A Car
  • Zipcar
  • Fox Rent A Car
  • Turo (peer-to-peer)
  • Getaround
  • U-Save Car & Truck Rental
  • Payless Car Rental

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Key Segments of Market Report

By Car Type:

In terms of car type, the industry is categorized into economy cars, compact cars, intermediate cars, premium cars, luxury cars, and others.

By End Use:

The service’s end use is diverged into intercity, intracity, on-airport, and other sectors.

By Booking Mode:

Based on the mode of booking, the services are trifurcated into offline access, mobile application, and other internet access.

By Sector:

The industry employs sectors such as organized and unorganized.

By Region:

The industry is spread across North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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India Ready-to-Mix Food Market Set to Reach USD 1,749.7 Million by 2033, Driven by Growing Demand and Consumer Trends

The India ready-to-mix food market is poised for significant growth, with projections estimating a market size of USD 1,749.7 million by 2033. The market, valued at USD 440.1 million in 2023, is expected to register an impressive compound annual growth rate (CAGR) of 14.8% through to 2033.

Key Highlights

  • Rising Consumer Demand for Healthy and Sustainable Brands: Indian consumers are increasingly inclined toward healthy food options that are good for both individuals and the planet. This trend is shaping the ready-to-mix food sector, with a heightened demand for snacks that not only satisfy the taste buds but also contribute to overall well-being. The snacking industry is evolving to meet these needs with new, diverse offerings that combine convenience with nutrition.
  • Focus on Sustainability: Sustainability has become a pivotal consideration in the ready-to-mix food industry. Consumers are placing greater emphasis on the environmental impact of their food choices, and manufacturers are responding by introducing products with responsible sourcing, eco-friendly packaging, and sustainable production practices. Marketers are also educating consumers about the sustainability features of their products, reinforcing the importance of mindful consumption.
  • The Popularity of ‘Made in India’ Products: As Indian consumers increasingly prioritize local and authentic brands, “Made in India” narratives are gaining prominence. Manufacturers are using compelling brand stories, showcasing the journey of ingredients from farm to table, to create a strong connection with consumers. This approach is helping businesses build customer loyalty and tap into the growing sentiment of pride in Indian-made products.
  • The Evolution of Snacking Preferences: Snacking in India has evolved into a crucial part of daily life, with a surge in demand for easy-to-consume products that fit into busy lifestyles. Ready-to-mix food, especially snack mixes, are seeing strong demand as consumers seek convenient, healthy alternatives to traditional meal preparation. The snack mix category alone accounted for 52.5% of the market share in 2023.
  • Expanding Distribution Channels: The modern trade sector continues to dominate the distribution of ready-to-mix food products, accounting for 38.3% of the market share in 2023. Supermarkets, hypermarkets, and mini-markets in urban areas are becoming key points of access for consumers seeking convenient, ready-to-mix solutions. This trend is particularly strong among working women, who prioritize time-saving meal options.

Market Dynamics and Growth Drivers

  • The convenience of ready-to-eat (RTE) meals and snacks is driving rapid adoption, particularly among working professionals and millennials with hectic lifestyles.
  • The sector is also benefitting from technological advancements, with products now more easily prepared with modern kitchen appliances like microwaves and induction stoves.
  • Manufacturers are innovating by offering new product variants with enhanced nutritional profiles to cater to health-conscious consumers.
  • The pandemic has accelerated growth, with increased consumer focus on health, hygiene, and packaged food products.

Competitive Landscape 

The India ready-to-mix food market is experiencing a surge in investments, driven by its strong growth potential. Leading brands are enhancing their manufacturing capabilities and increasing investments in marketing and sustainability initiatives. Social media platforms, especially YouTube, are being leveraged by brands to share recipes and engage with consumers, helping them stay top-of-mind in a competitive landscape.

Key players in the market are also focusing on reducing their carbon footprint and promoting sustainability. Additionally, brands are introducing a diverse range of global and regional flavors, representing various Indian states. Ready-to-mix food products that offer superior texture, flavor, and satiety, combined with health benefits and convenience, are expected to attract more consumers embracing mindful consumption.

Recent Developments in the India Ready-to-mix Food Market

  • In June 2023, Weikfield Foods, which is India’s prominent brand for custard powder, baking powder, corn flour, and pasta, released its recent innovation, the Weikfield Instant Custard Mix. The company is committed to enhancing its consumers’ experiences with easy-to-make food options. With the launch of this ready-in-2-minute dessert, the company is set to transform the custard powder market.
  • In March 2023, Ammamma’s, a renowned brand in Telangana, Hyderabad, and Andhra Pradesh for its high-quality and fiber-rich products, launched its product line consisting of a diverse range of packed chapati, along with parota, poori, and dosa-idli batter. The brand is extending its presence in Bangalore by tying up with a strategic logistic partner, named Green Drive Mobility.
  • In April 2023, Wipro obtained Brahmins, which is a Kerala-based conventional vegetarian, ready-to-cook, and spice mix brand. The company has also drawn up plans to introduce its snack brands in the southern market. For this purpose, the company is in the process of debuting its brand in the rapidly growing RTE and snacks segment.

Key Players in the India Ready-to-mix Food Market

  • Mavalli Tiffin Room (MTR)
  • GITS food products Pvt Ltd
  • Indian Tobacco Company (ITC)
  • Kohinoor Foods and Priya Foods
  • Others

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Market Segmentation

By Application:

  • Snack Mix
  • Desert Mix
  • Curry Making Enablers

By Distribution Channel:

  • Modern Trade
  • Kirana Shops
  • Online Retailers
  • Other Distribution Channels

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Global Medical Polyetheretherketone Market Set for Substantial Growth to Reach USD 1158.26 Million by 2032, Driven by Technological Advancements and Rising Demand in Medical | FMI

The global medical polyetheretherketone market is on track for significant growth, according to the latest industry analysis. Valued at USD 572.54 million in 2022, the market is projected to reach an impressive USD 1158.26 Million by 2032, reflecting a robust Compound Annual Growth Rate (CAGR) of 7.3%. This growth is primarily driven by increasing demand for PEEK in the medical industry, along with advancements in manufacturing technology.

PEEK, a high-performance thermoplastic polymer known for its outstanding properties, including high temperature resistance, biocompatibility, and durability, is rapidly gaining traction across the medical sector. Its superior mechanical strength and radiolucency have made it the material of choice for a wide range of medical devices, implants, and equipment, which, in turn, enhances overall performance and improves patient outcomes.

“The growing adoption of PEEK in various medical applications is a direct result of its unique ability to withstand sterilization processes, maintain structural integrity under stress, and integrate seamlessly with human tissue,” said a spokesperson from the market research team. “These characteristics make it an ideal material for spinal implants, orthopedic devices, and dental applications, which are crucial in improving the quality of care.”

Technological advancements in PEEK manufacturing are accelerating the market’s expansion. Increased investments in research and development have spurred innovations in PEEK-based medical solutions, driving its adoption across both existing and emerging medical applications. These advancements are expected to enhance patient care and deliver greater operational efficiencies for healthcare providers globally.

The increasing focus on minimally invasive surgical procedures, supported by favorable regulatory policies, is further fueling the demand for high-performance materials like PEEK in the healthcare sector. Additionally, the Asia-Pacific region is expected to experience a surge in revenue, with a projected growth rate of 8.7% throughout the forecast period. Notably, cardiovascular applications are leading the market in the region, with a medical PEEK market value of USD 36.17 million in 2021, driven by the rising incidence of sedentary lifestyles in countries like China and India.

As the healthcare industry continues to evolve, the demand for advanced materials such as PEEK is set to rise, offering a promising outlook for the global market over the next decade.

Key Takeaways from Market Study:

  • In 2021, the spine implantation segment led the medical polyetheretherketone market and contributed for more than 30.0% of global revenue.
  • North America held the biggest medical polyetheretherketone market share in 2021, at over 40 percent, and is anticipated to experience substantial increase throughout the forecast period.
  • In Canada, sales of medical polyetheretherketone are anticipated to expand at a CAGR of around 7% during the coming year. Both the commercial and public sectors are making substantial investments in Canada’s healthcare industry, which is fuelling research and development.
  • There are currently 54 million Americans over the age of 65, and this number is predicted to rise to 74 million by 2030. The elderly population, which requires the most comprehensive care, is growing even more fast. The region’s substantial elderly population is also driving growth in the medical polyetheretherketone industry.

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Competitive Landscape:

Due to a few regional players, the global demand for medical polyetheretherketone is consolidated. Important participants include Panjin Zhongrun High-Performance Polymers Co. Ltd., Victrex Plc., Jrlon Inc., and Quadrant EPP Surlon India Ltd.

Increasing overall applicability in a range of areas, such as medical, aerospace, and automotive, has led to the expansion of the industrial service provider market and thus also changing the medical polyetheretherketone market outlook. Prototype & Plastic Mold Co. Inc., Parkway Products Inc., A. Schulman AG, and Stern Sectors Inc. are among the key service providers that use the product for injection moulding and other uses in a variety of industries.

Numerous industries, including as healthcare, aerospace, electronics, packaging, and autos, are anticipated to gain from the expanding medical polyetheretherketone market. Medical industries are patenting polyetheretherketone-based end-use innovations in order to acquire a competitive advantage over rivals.

Medical Polyetheretherketone Market by Segmentation:

By Application:

  • Trauma Fixation
  • Cardiovascular
  • Orthopaedic
    • Spine Implantation
    • Knee & Hip Implantation
  • Dental Implants & Fixtures
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
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Polywoven Bags Market to Reach USD 8,341.2 Million, Globally by 2033 at 4.8% CAGR: Future Market Insights, Inc.

The polywoven bags market, valued at USD 5,219.4 million in 2023, is poised for significant growth, with projections indicating a rise to USD 8,341.2 million by 2033. This remarkable expansion, at a compound annual growth rate (CAGR) of 4.8%, highlights the growing demand for polywoven bags, driven by multiple factors, including the need for efficient product storage and safety.

Polywoven bags have become a popular choice across industries, particularly in the fast-moving consumer goods (FMCG) sector. Their ability to enhance product shelf life and ensure safe storage has made them an indispensable packaging solution.

The demand for these bags is expected to surge further as manufacturers increasingly look for packaging that not only protects products but also communicates their brand’s value proposition.

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One of the key advantages of polywoven bags is their ease of customization. These bags provide a highly effective surface for printing, allowing brands to enhance visibility and foster brand awareness through clear and seamless messaging. This ability to print directly on the surface of the bags makes them an ideal choice for companies looking to leverage packaging for marketing purposes.

Market Trends:

  1. Sustainability: The polywoven bags market is witnessing a trend toward the use of sustainable and recyclable materials, aligning with increasing environmental awareness.
  2. Innovations in Design: Manufacturers are focusing on innovations in polywoven bag design, including features like easy open/close mechanisms, handles, and enhanced printing capabilities.
  3. Increased Use in E-commerce: The growth of e-commerce has contributed to the demand for durable packaging solutions, and polywoven bags are being increasingly adopted for shipping and packaging goods ordered online.
  4. Global Market Expansion: The polywoven bags market is expanding globally as industries worldwide recognize the advantages of these bags in terms of durability and cost-effectiveness.

Key Takeaways: Polywoven Bags Market

  • The manufacturers in the United States made substantial investments in research and development activities. The market for polywoven bags in the United States accounted for 20.1% of the share globally.
  • The market in emerging economies of the Asia Pacific such as India and China is expected to maintain a healthy and significant growth CAGR of 5.4% and 4.7% respectively during the projected period.
  • The polywoven bags market is anticipated to expand at an annual average rate of 3.3% in the United Kingdom, which is expected to lead to enhanced demands for various end-user products.
  • Germany’s market for polywoven bags held a share of 5.7% in 2022 globally. The market is forecasted to experience notable growth through 2033. This can be attributed to the rapid development of technology and extensive research and development in the region.

Market Key Players

  • H Polesy & Co Pty Ltd
  • LC Packaging
  • Mondi Group
  • Anita Plastics Inc.
  • Knack Packaging
  • AEP Industries Inc.
  • Interplast Group
  • Hanoi Plastic Bag JSC
  • Da Nang Plastic Joint Stock Company
  • Bischof & Klein GmbH & Co
  • Inova Pvt. Ltd.
  • Daman Polyfabs

Recent Developments

  • May 2023 – Nova Chemicals, a polyethylene supplier partnered with biaxial film manufacturers around the world to produce BOPE-HD (biaxially oriented high-density polyethylene) film on commercial tenter frame lines. BOPE-HD is a fully recyclable alternative to traditional, non-recyclable mixed material films for flexible packaging.
  • July 2023 – easy2cool invented and launched a paperfloc Eco-liner bag, in partnership with Mondi that contains shredded recycled paper to insulate cold products. This team-up has been done with the intent to replace unnecessary plastic for insulation packaging dedicated to e-commerce.

Key Segments Profiled in the Polywoven Bags Market Survey

By Product:

  • Linear
  • Non-Linear

By Material:

  • Polypropylene
  • Polyethylene

By Application:

  • Fertilizer bags
  • Flour bags
  • Seed bags
  • Solid chemicals
  • Cement bags
  • Sugar/Salt Packaging bags
  • Sandbags

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:     

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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